Student loan interest rates
What is the Student loan interest rates right now?
The current figure is Plans 1/4/5: 4.1% · Plan 2: 4.1% to 6.0% by income (capped at 6%) · Postgraduate: 6.0% (capped at 6%) (rates (academic year)), effective from 2026-09-01 to 2027-08-31, according to gov.uk / DfE. Last checked against the official source on 2026-11-01.
For the 2026/27 academic year from 1 Sep 2026; RPI 4.1% basis. Student Loans Company announcement of 10 August 2026: "Interest rates for Plan 2 income contingent student loans vary between RPI (4.1%) and RPI +3% (7.1%) depending on your circumstances. However, as announced on 7 April 2026, the maximum interest rate applied to plan 2 loans will be capped at 6% between 1 September 2026 to 31 August 2027." For Plan 3 postgraduate loans: "The interest rate for Plan 3 is RPI + 3% (7.1%). However, as announced on 7 April 2026, the maximum interest rate applied to plan 3 loans will be capped at 6% between 1 September 2026 to 31 August 2027." So 7.1% is the uncapped formula and 6.0% is the most actually charged. Plan 4 (Scotland) is not in the DfE announcement, which covers Plans 1/2/5, Postgraduate and mortgage-style only; its 4.1% is cited directly from the gov.uk "repaying your student loan / what you pay" page (https://www.gov.uk/repaying-your-student-loan/what-you-pay), checked 2026-09-07, and is set by the same lower-of-RPI-or-base-rate-plus-1% rule as Plan 1. Mortgage-style (pre-1998) loans are also 4.1% for this period but are not currently carried in this metric.
Cite this figure
The Student loan interest rates is Plans 1/4/5: 4.1% · Plan 2: 4.1% to 6.0% by income (capped at 6%) · Postgraduate: 6.0% (capped at 6%) (rates (academic year)), effective 2026-09-01 to 2027-08-31. Source: gov.uk / DfE (https://www.gov.uk/government/news/student-loans-interest-rates-and-repayment-threshold-announcement--7), via UK Rates & Thresholds (rates.trycashpilot.com), checked 2026-11-01.
| Official source | gov.uk / DfE |
|---|---|
| Valid from | 2026-09-01 |
| Valid to | 2027-08-31 |
| Last checked | 2026-11-01 |
| Machine-readable | JSON for this figure |
History
| Previous values |
|---|
| Plans 1/4/5 3.2%, Plan 2 3.2-6.2%, PG 6.2% from 2025-09-01 |
| Plans 1/4/5 4.3%, Plan 2 max 7.3%, PG 7.3% from 2024-09-01 |